Business

William B. Sands, Jr., Executive Chairman, Commonwealth Bank announces 3-for1-Stock Split
William B. Sands, Jr., Executive Chairman, Commonwealth Bank announces 3-for1-Stock Split

September 21, 2017

Commonwealth Bank today announced that its Board of Directors has declared a three-for-one stock split. “I am pleased to announce this three-for-one stock split which reflects the continued strong financial position of the Bank,” said William B. Sands, Executive Chairman of Commonwealth Bank...

read more »

Google signs 1.1bn HTC smartphone deal
Google signs $1.1bn HTC smartphone deal

September 21, 2017

Alphabet's Google has struck a $1.1bn (£822m) deal with Taiwan's HTC to expand its smartphone business.

read more »

CLOSURE OF BUSINESSES in The South Eastern Bahamas
CLOSURE OF BUSINESSES in The South Eastern Bahamas

September 20, 2017

Due to the proximity of Hurricane Maria and the forecasted weather associated with the storm which is expected to impact the SOUTH EASTERN BAHAMAS, the Cabinet Office announced...

read more »

BahamasLocal.com is a proud Co-Partner of Bahamas International Festival Film BIFF Workshop
BahamasLocal.com is a proud Co-Partner of Bahamas International Festival Film (BIFF) Workshop

September 20, 2017

The Youth Film Workshop is a program for participating schools throughout The Bahamas to learn the fundamentals of making a film in a day...

read more »

Sandals Resorts International honored by Annual Travel Award

September 20, 2017

Luxury Included® Resort Company Receives 11 Awards from Annual World Travel Awards...September 17, 2017 – Sandals Resorts International (SRI) was honored with 11 prestigious awards by the 24th Annual World Travel Awards...

read more »

Lombard Odier Executives pay courtesy call on Minister Symonett

September 20, 2017

Lombard Odier & Cie (Bahamas) Ltd. executives paid a courtesy call on Minister of Financial Services, Trade & Industry and Immigration the Hon. Brent Symonette, recently, at the Ministry...

read more »

PowerSecure and BPL end business relationship
PowerSecure and BPL end business relationship

September 20, 2017

PowerSecure and Bahamas Power and Light (BPL) agreed to 'amicably' sever their business relationship as of Monday, September 18.

read more »

Coca-Cola supports Paradise Plates
Coca-Cola supports Paradise Plates

September 20, 2017

For the 4th year Caribbean Bottling Company will be sponsoring Hand’s For Hunger’s premiere fund raising event “Paradise Plates”.

read more »

There's an elite water list too
There's an elite water list too

September 20, 2017

WATER and Sewerage Corporation Chairman Adrian Gibson yesterday confirmed the existence of a "do not disconnect" list populated by scores of elites at the government owned utility provider as he pledged to initiate a crackdown on delinquent accounts...

read more »

Bahamasair Change in Schedule-Mayaguana and Providenciales

September 19, 2017

Bahamasair Change in Schedule-Mayaguana and Providenciales

read more »

Microsoft Outlook issue fixed
Microsoft Outlook issue fixed

September 19, 2017

Microsoft says that its Outlook email services have been fully restored, following problems which lasted several hours.

read more »

MP Lewis brings relief along with BTC and Our Grand Bahama to Pinder's Point
MP Lewis brings relief along with BTC and Our Grand Bahama to Pinder's Point

September 18, 2017

Working along with MP for Central Grand Bahama, Iram Lewis, Team BTC and their #HurricaneIrma recovery partners, Our Grand Bahama brought much-needed relief to Pinders Point on Thursday...

read more »

Commonwealth Brewery Limited donates 40,000 to NEMA and The Bahamas Red Cross for Hurricane Relief
Commonwealth Brewery Limited donates $40,000 to NEMA and The Bahamas Red Cross for Hurricane Relief

September 18, 2017

Commonwealth Brewery Limited (CBL) presents the National Emergency Management Agency (NEMA) and The Bahamas Red Cross with a donation of $20,000...

read more »

Sunryse Supports Bahamas Sickle Cell Association with 3K Donation
Sunryse Supports Bahamas Sickle Cell Association with $3K Donation

September 18, 2017

The Bahamas Sickle Cell Association received a financial boost thanks to a recent donation from Sunryse Information Management. The $3,000 contribution will assist the local non-profit group in its ongoing efforts to raise awareness and provide hope and support to persons in The Bahamas living with the illness...

read more »

Do Bigger Things with BTC-Company first to market with the Samsung Note 8 Device
"Do Bigger Things with BTC"-Company first to market with the Samsung Note 8 Device

September 18, 2017

“We want our customers to do bigger things! That’s the theme behind the launch of the new Samsung Note 8 device,” said Alphanique Duncombe, Vice President for Mobile...

read more »

IMF projects 1.75 growth in 2017, 2.5 in 2018

September 18, 2017

The Executive Board of the International Monetary Fund (IMF) projected in its Article IV consultation with The Bahamas that this country's real GDP (gross domestic product) growth will pick up to 1.75 percent in 2017 and to 2.5 percent in 2018, driven in part by a strong U.S. economy, the phased opening of Baha Mar and related construction activity.
The IMF added that post-hurricane reconstruction following Hurricane Matthew last year and an uptick in foreign direct investment-financed projects, should also support The Bahamas' economic recovery. "However, medium-term growth would remain low, reflecting significant structural bottlenecks," the IMF executive board's opinion stated.
"Economic activity remained weak in 2016. Hurricane Matthew, which hit The Bahamas in October last year, signi...

read more »

Building code one of the most 'structurally sound and robust' in region, says Sands

September 18, 2017

President of the Bahamian Contractors' Association (BCA) Leonard Sands asserted that The Bahamas' building code is one of the most "structurally sound and robust" codes in the Caribbean.
His comments came after Prime Minister Dr. Hubert Minnis asked Minister of Public Works Desmond Bannister to fully review The Bahamas' building code, lamenting that many homes as well as government buildings have not been built to code.
Minnis, in the wake of widespread destruction by Hurricane Irma in the southern Bahamas, has decided to tighten the country's building code if need be, in order to ensure buildings will be able to withstand the destructive forces of Category 5 hurricanes.
Speaking with Guardian Business recently, Sands insisted that the country's building code is "rigid" and also set the st...

read more »

IMF recommends lower wage bill, self-sustaining public corporations

September 18, 2017

The International Monetary Fund (IMF) Executive Board, in its consultation with The Bahamas, recommended the country, as a top priority, restore fiscal sustainability by cutting current expenditures. The government's wage bill was a top focus for the organization, as well as making public corporations self-sustaining, which has been a continuing issue for the government of The Bahamas.
The IMF, in a summary paper released last week, lauded the government's move to tighten up on government spending and waste. In its latest executive board paper, the IMF encouraged the government to "adhere to their fiscal consolidation plan to reduce the public debt burden and strengthen external buffers".
It also underscored that "reforming the National Insurance Board and the civil servants' pension syste...

read more »

Moree: Need to rationalize current tax regime before new tax

September 18, 2017

Senior Partner at McKinney Bancroft & Hughes Brian Moree indicated that there is still a lot of work to be done with The Bahamas' current tax regime before considering a new tax such as an income tax.
Moree's comments were in response to the International Monetary Fund's (IMF) suggestion that The Bahamas implement a low rate income tax in an effort to "strengthen revenue". The IMF suggested that The Bahamas implement the system while reducing import duties.
Speaking with Guardian Business yesterday, Moree said he thinks it would be "premature" for the government to contemplate the introduction of a new major tax "on the backs of the Bahamian people".
Moree pointed out that value-added tax (VAT) was introduced in 2015, and there is still a significant regime of import duties and other indi...

read more »

BTC launches national text-to-donate campaign

September 18, 2017

Bahamas Telecommunications Company (BTC) will launch a national text-to-donate campaign drive, allowing all Bahamians to participate in fundraising efforts to assist those most affected by Hurricane Irma.
The campaign, themed "Each One, Reach One", will allow customers to make a donation to the relief efforts. The process is simple, and customers can give $1.00 by texting the word "DONATE" to the number "5115". Customers can donate as many times as they wish.
Proceeds will go to the National Emergency Management Agency (NEMA). Interim CEO Dexter Cartwright said, "BTC is known to be a big brother in the community, and we are always willing to help wherever we can. Starting tomorrow, our entire customer base will be able to make a donation to assist those in need. BTC will match every dollar...

read more »